THE DATA STRATEGY BLUEPRINT SERIES DATA QUALITY & INTEGRATION

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1 THE DATA STRATEGY BLUEPRINT SERIES DATA QUALITY & INTEGRATION

2 "It is not the beauty of a building you should look at; it s the construction of the foundation that will stand the test of time." David Allan Coe, Architect The knee-jerk reaction of creative, high-energy types like most sales and marketing pros might often be to cringe at the effort and perceived constraints involved in building of a foundational data strategy. But in reality, successful sales and marketing teams are finding opportunity in the order. They see that structure, inspired by the right business data, creates the freedom to do what sky-scraping sales aces and brilliant creative minds unify around: the need to drive company growth. With a focus on improving customer data and analytics, successful B2B organizations are creating the tools and resources that truly impact revenue. They are using CRM, marketing automation and other systems to share knowledge across the enterprise - and put it to work to build valuable relationships. The sections that follow will explore best practices for data quality and integration. After reading, and sharing with your team, you ll better understand how to connect a vision to the actual construction of a data strategy that will improve productivity and drive growth. THE DATA STRATEGY BLUEPRINT SERIES Building a structure to bear the load of a successful business requires an intelligent plan. Structural plans start with a foundation and frame. Today that means solid, high-quality data that strengthens the walls of the business, connects power throughout the organization, and pipes in insights about your customers and prospects. This series is focused on helping you design that blueprint, with guidance from the architecture experts at Data.com and Dun & Bradstreet.

3 THE BLUEPRINT FOR DATA QUALITY AND INTEGRATION 1 DATA IS UNIFIED Create a single, integrated view of customers and prospects across sales, marketing and the rest of the business 2 DATA IS CLEAN Assure that your data is trustworthy 3 DATA IS ENRICHED Develop enhanced profiles that open new opportunities

4 DATA IS UNIFIED Marketing and sales together own the buying experience at B2B organizations, yet most teams see, and use, the customer and prospect databases very differently. Unless you have established a clear plan for collaboration, that differing information usage and interpretation can negatively impact how the customer experience plays out. You want one blueprint, not two or three or four with the knowledge gained throughout the relationship readily accessible across the organization. It spans more than just sales and marketing to every part of your organization that has contact with a customer and can capture and use valuable relationship data. Working across silos and cross-functionally, you want to make sure your CRM creates: A single view It brings together all of your data, so you can see each customer, and access data from every perspective A complete view It taps into global sources beyond your own transactional data sets, so you gain a fuller, more comprehensive picture of your customers and prospects An actionable view It ties data directly to the business challenges facing your company, so you can improve decision-making and gain real business value from your data. A flexible view it organizes and structures data so that every business unit across your enterprise is working from the same set of insights and then customizing processes according to their roles. 3

5 DATA IS UNIFIED BEST PRACTICES: Define and communicate a corporate philosophy for the customer relationship. Every marketer and salesperson should understand that the relationship extends across organizations. Data governance refers to the processes and controls that organizations put in place to ensure that their data is accurate, complete, up to date and consistent across the organization. It solves for common data quality challenges and outlines the activities for improving and maintaining data across the organization. Agree upon what a desirable prospect looks like and make sharing key information mandatory. If those teams aren t in agreement regarding lead-related definitions and aren t actively sharing critical data with one another, you may be missing out on excellent opportunities. Always keep marketing and sales involved after the sale. Any good sales team should be continuing the conversation, and marketing needs to stay engaged with sales to learn as much as they can about how to extend the relationship. In most organizations, there is room for both sales and marketing to do more to nurture and expand loyal relationships. To learn more, see our Introduction to Data Governance & Stewardship e-book. DOWNLOAD THE E-BOOK 4

6 DATA IS CLEAN Just as you only want one blueprint, you also want to make sure its lines are crisp, precise and match the vision of the architect. But the quality of your results depends on the quality of your data. Are your salespeople acting on the right data? Is the data accurate and complete? Does it reflect the most up-to-date information about your customers and prospects? Too often the answer is no. The number one reason for mis-steps or missed opportunities is bad data. Let s pause to examine why. Take a minute to look around at your offices or scan the names in your inbox. How have the people at your company, and the companies you work with, changed? Undoubtedly you can see how quickly your world of peers and contacts evolves. Keeping pace with the competition isn t necessarily success. You want to get and stay ahead. It isn t enough to simply collect data. You must also establish a data strategy that brings together all of your data in a systematic way to ensure data quality. On average, every 30 minutes It s not as difficult as you think. The single shared view we talked about earlier is an important part of data quality process. 120 Business addresses change 75 Phone numbers change 20 CEOs leave their jobs 30 New businesses are formed (Source: Dun & Bradstreet; The Sales and Marketing Institute) 5

7 DATA IS CLEAN INTEGRATED DUN & BRADSTREET DATA DRIVES RESULTS A leading analyst firm compared campaign and sales results from a variety of companies, some of which used Dun & Bradstreet data to augment their account information, and some did not use additional data. Researchers found that companies that integrate Dun & Bradstreet business information, manage campaigns more effectively, close deals more effectively and generate more revenue than companies that do not use Dun & Bradstreet data. BEST PRACTICES: Companies using Dun & Bradstreet data: +46% Manage campaigns more effectively Define your data standards, including the metrics for adhering to those standards Ensure data quality at the point of origin and at key checkpoints as data flows through your organization s systems and databases Adopt a unique, persistent key, like the D-U-N-S number, that identifies each entity, (e.g., an account) and the corresponding data that relates to that entity Establish format standards for specific data fields like country, state and industry and use field tools like picklists to keep data normalized and more usable Implement a rigorous data maintenance strategy to update constantly changing information by creating on-demand access to a quality, trusted information source like Dun & Bradstreet. Solutions like Data.com Clean automate the process and eliminate the manual work of sending files back and forth to a data provider, and prevent data-entry errors before they get into the system. Address the problem of duplicates by implementing a search before create policy to check for existing accounts as new accounts and opportunities are entered. +29% Close deals more effectively +10% Generate more revenue Source: Driving Growth with Customer Data Management, a study sponsored by Dun & Bradstreet 6

8 DATA IS ENRICHED If you ve bought a house that needs updating or expansion as it ages, you know that a building s original blueprints often need to be expanded. You have to approach your data strategy just as opportunistically adding value by enriching it with additional details to show new paths to growth or previously hidden up-sell and cross-sell targets. Business information that can enrich your existing customer knowledge includes SIC codes, sales volumes, number of employees, financial details, predictive scores, and a multitude of other variables that can provide deeper insight into your existing customers. But, to get a crystal clear picture of the opportunities amongst customers and across markets, best-in-class organizations connect the dots between companies with corporate linkage. Using corporate linkage an understanding of how an account fits into an overall hierarchy or family tree provides better insight into which accounts are really your best opportunities. It reveals the entire corporate family hierarchy to expose significant new white space opportunities where existing relationships can be mined to expand relationships and increase sales. 7

9 DATA IS ENRICHED THE D-U-N-S NUMBER IS YOUR KEY TO RICH DATA The Dun & Bradstreet D-U-N-S Number is the critical connector of effective linkage. It is a unique business identifier that companies worldwide use to enable identity resolution, connecting to the world s largest corporate database and the deep insights that come from 240 million company records. The D-U-N-S Number is available for Salesforce customers using Data.com, and enables better tracking and maintenance, as well as a powerful Company Hierarchy tool for visualizing and finding whitespace in corporate family trees. With the D-U-N-S Number attached to your account records you ll be able to: Know who your most profitable and valuable customers are by aggregating enterprise-wide revenue (Revenue Roll-Up) Enable cross-sell and drive further penetration by identifying non-buying family members of your existing customers Enable upsell by identifying family members who would benefit from additional products and services they are not buying today MORE THAN sentiment data CUSTOMER SUPPORT 43+ associates courts & legal filings 35,000+ touchpoints/month 92.8% world class satisfaction government registries payment experiences merchant data utility data 10,000+ calls p1m+ invested every business day in maintenance 5m+ updates daily with monitoring GLOBAL COMMERCIAL DATABASE 30, m+ sources businesses globally banking info and alerts financial filings newspapers & publications shipment data government control lists social media data 220+ countries worldwide JUST A NUMBER CORPORATE LINKAGE 18m+ companies part of a family tree 4m+ family trees 1,000+ industries 1b+ payment and bank experiences 178m+ public records including suits, liens, judgments and bankruptcies IDENTITY RESOLUTION entity matching semantic/ ideogrammatic FINANCIAL DATA RATINGS, PREDICTORS & ANALYTICS D&B Viability Rating labor market data D&B Delinquency Protector D&B Total Loss Protector D&B Anticipatory Analytics $ $ $ 1b+ trade experiences a language specific?! a language agnostic Enhance account planning and territory assignment to ensure proper resource and strategy alignment D-U-N-S Optimize lead and account routing to quickly identify if a lead is part of a named or assigned account THE DUN & BRADSTREET D-U-N-S NUMBER The Power Behind the Number The D-U-N-S Number is more than just a number it is the key to unlocking valuable insights and analytics on business entities around the world. It is a robust numbering system that enables insights across businesses and corporations that are accurate, properly vetted, and forward looking. 8

10 TIME WARNER SEES BIG RESULTS WITH A BLUEPRINT FOR IMPROVING AND INTEGRATING DATA For Time Warner Cable, keeping up with the demands of over 1 million business customers who subscribe to internet, phone, and cable services has meant redefining how they approach their business. "Everything s changing. Our customers are changing. We are looking at how can we better identify our customers and become more sensitive to what their needs are." William Dressler, Senior Architect at Time Warner Understanding its customers was especially complex for Time Warner, which had millions of account records stored in its customer database, many of which contained multiple locations, and information spread across multiple systems for billing and provisioning. Attaining that complete customer view is why Time Warner chose Salesforce to bring together its different tools and definitions to create a customer master record one trusted source of truth that the entire company could rely on. This way, all the teams, from sales to billing to service, could see everything about the customer, their history, and their needs. They enlisted Data.com to automate the data entry and hygiene processes in real time, connecting seamlessly to Dun & Bradstreet company data to clean account records and give them a complete picture of each customer. Building a customer master with Salesforce, Data.com, and Dun & Bradstreet as the foundation has not only given Time Warner a clear picture of its customers, it s also helped the company better organize itself and act like one, unified team. Instead of sales using one system, billing another, and provisioning another still, all their systems are integrated into Salesforce, so the entire company is working off of the same information. Time Warner Cable now has continuity across all channels, thereby improving every interaction with their customers. 9

11 CUSTOMER DATA THAT YOU CAN TRUST If you are a Salesforce customer and want to improve the data quality of your CRM, enhance reporting capabilities and increase sales productivity, then you need Data.com. Data.com delivers premium contact and company profile information, sourced from Data.com Connect and Dun & Bradstreet, right inside of Salesforce. 37% 44% 29% 43% Increase in Sales Productivity Improved Data Completeness More Sales Opportunities Better CRM Adoption WATCH DEMO 2016 Salesforce.com. All rights reserved. 10